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| rev | Admin | (Created page with "'''Solution: A''' Let i represent the common yield rate of the two bonds. Since the modified duration is the Macaulay duration divided by (1 + i) and i > 0, the Macaulay duration of each bond is greater than its modified duration. Since a < d < b, the Macaulay duration of d years must be associated with the bond with modified duration a years. Since the bonds have the same yield rate, the ratio of the two types of duration is the same for each bond. So if x represents...") | Nov 20'23 at 23:00 | +665 |